Licensed Money Lender Personal Loan Rochor
Nestled within the Central Area of Singapore is an area that is quite rich in history. It’s known as Rochor. This area boasts of what was Singapore’s first racecourse.
One thing Rochor is known for is the architectural landmarks built within the area. Among them were the painted flats that were in existence for at least two decades. These flats attained icon status but were demolished to pave way for new developments.
But there is more to the area than its rich history. The area boasts of numerous shopping outlets, with the culturally-rich Little India among them. Other multi-cultural attractions include temples, mosques, multiple heritage centers, cathedrals, markets, and museums.
If shopping is your thing, living in Rochor is something you should think about. And should you need money to furnish your home or buy other things that you need to make it more attractive, it pays to get a loan from the right people.
What is a Payday Loan?
A payday loan is a short-term loan that does not require any collateral. It is given to the borrower on the condition that it will be paid back once the paycheck is cashed in.
Once you agree to turn over your paycheck, the moneylender will give you the lump sum that you need. That enables you to pay off the pending bills when they are due, instead of incurring extra charges by paying them later.
Generally speaking, payday loans tend to attract higher interest rates due to their unsecured and short-term nature. However, regulated Singapore money lenders are regulated in how much interest rate they can charge. The maximum interest rate is capped at 4% per month.
The Advantages of Taking a Payday Loan
You should have a purpose for the payday loans that you choose to take. When you use them well, you will enjoy the benefits of having this kind of financing at your disposal. The advantages of taking a payday loan include the following:
- A payday loan is an unsecured loan. That means you neither need a guarantor nor an asset as collateral. So, even when you have no asset to offer or any connections to moneyed people, you can still access the loans that you need.
- Payday loans from regulated money lenders will enable you to get the funds that you need to deal with financial emergencies. That ensures you are not vulnerable to loan sharks that charge extraordinarily high-interest rates and use unlawful ways to recover debts.
- A payday loan is a discrete way of ensuring you can pay your bills. You won’t have to deal with the embarrassment of being unable to meet your financial obligations. Nobody has to know you struggle to make ends meet if you don’t want them to.
- By accessing a payday loan, you will be able to avoid the legal consequences of not meeting your bills. For example, you won’t have to sign bouncing checks or have your car repossessed.
- The short-term nature of a payday loan enables you to easily build a positive credit history within a short time. All you have to do is borrow money and pay the bills as intended severally without fail. And soon, your reliability as a borrower will begin to reflect on your credit report.
How to Get a Payday Loan From Us?
If you are in Rochor, Raffles Credit payday loan is very easy and convenient. The process is as follows:
- Check our website to determine if you meet our requirements. There are different eligibility criteria for citizens of Singapore, PRs, and foreigners. So, be sure to read the requirements based on where you fit best.
- If you are eligible for the payday loan that we offer, fill in the online application form. Be sure to include all the details that the form asks for.
- Stay around and keep your phone ready. We will contact you to inform you whether you have our preliminary approval.
- On the appointed day, show up at our offices with all the relevant documents. We will have a physical consultative meeting with you. Then we will verify your identity according to the Ministry of Law guidelines.
- We will then show you our customized loan plan, and if you agree to the terms and conditions, we will give you a loan agreement to sign.
- Once all the paperwork is done, we will begin to process your loan application immediately. You will receive your money on that same day.
Why Get a Payday Loan From Us?
Looking for a licensed moneylender in Rochor that adheres to the law to give you a payday loan? Raffles Credit is here for you. And we have 5-star ratings and hundreds of positive reviews on Google and Loan Advisor as proof of how great our services are.
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